Swissport Seeks Support to Raise up to $417 Million of Loans (1)

Swissport International AG is seeking permission from its creditors to raise as much as 380 million euros ($417 million) of new financing to buttress its balance sheet amid the pandemic crisis.

The airport baggage handler, owned by Chinese conglomerate HNA Group Co., is asking to change the terms of bonds and loans to raise the new financing, which will rank senior to its existing debt, it said in a statement late on Wednesday.

As part of the transaction, Swissport may apply for a U.K. scheme of arrangement, a court process which allows to change debt terms with support from 75% ...